Cleo Continues Significant Year-over-Year Growth, Further Expands Ecosystem Integration Category Leadership
Company’s focus on ecosystem enablement is helping thousands of supply chain-driven businesses better manage relationships through Cleo Integration Cloud adoption
Cleo, the pioneer and global leader of the world’s Ecosystem Integration software category and provider of the Cleo Integration Cloud (CIC) platform, today reported 2022 results with strong year-over-year growth and solid profitability, delivered in spite of the market’s continuing supply chain disruptions, and general economic uncertainty.
The company’s strong 2022 performance can be attributed to Cleo’s relentless focus on delivering highly scalable cloud-based integration solutions that enable the business ecosystems of its more than 4,100 customers in manufacturing, logistics & transportation, wholesale distribution and retail, among other sectors.
2022 performance highlights included:
- Cloud Revenue Growth: Cleo marked its 5th straight year having 40%+ growth in Cloud Subscription revenue
- Cloud Customer Growth: Existing customers grew transactions through CIC by over 182% YoY, demonstrating tremendous value creation of the platform through growth in customer ecosystem partners and use cases
- Product Innovation: Added more than 25 new CIC platform capabilities, including the launch of CIC Cockpit with RADARTM, the industry’s first ecosystem relationship management framework that automates early detection and real-time alerting of at-risk business commitments and service level agreements (SLAs)
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“Cleo is rapidly distancing itself from alternative solutions in the Ecosystem Integration category by continually focusing on the three essential components of a complete solution: First, we are constantly innovating our platform, Cleo Integration Cloud, to give our customers precisely the integration capabilities they need. Second, we are enabling our customers’ entire ecosystems through end-to-end integrations with the Cleo Network, not just making point-to-point connections like our competitors do. And third, we are giving our customers the confidence and control they seek to better manage and strengthen all their ecosystem relationships,” CEO Mahesh Rajasekharan said. “I could not be prouder of Team Cleo for everything we are doing to continually innovate our platform and deliver billions in value annually to our customers worldwide.”
Additional achievements for 2022 included:
- Inclusion in the Gartner Inc. Report titled, “Enable and Enhance 3PL Collaborations with Integration Platforms,” (7 November 2022 – ID G00775175, by Rishabh Narang, Simon Tunstall)
- Earning 30+ G2 Badges reflecting distinction in EDI and MFT from both mid-market and enterprise accounts
- Mahesh Rajasekharan being awarded EY “Entrepreneur of the Year” honors for the U.S. Midwest region
- Strengthened our Customer Success, Partner, Development, Sales & Marketing and Product Development teams by adding more than 100 new Cleoites around the world in 2022
- Expanded footprint by opening a new office location in downtown Chicago
“Our vision for B2B cloud integration and our strategy for delivering it are spot on for what the market needs,” Rajasekharan said. “By continuing to execute with the maniacal focus on customer success that we have become known for, there will be no stopping Cleo as we further develop and lead the Ecosystem Integration category we originally defined.”
